All Forum Posts by: Jamie Parker

Well my first thought would be states with no income tax,

Second possible oppurtunity zones, (legislation is currently stalled as of 22 March to include more census tracts)

third asset types, I like multifamily 4-20 units, sfr portfolios 5-10 or ones you can cherry pick.

then to markets Memphis is a good rental market secondary market like desoto county, bartlett germantown etc. Nashville is a alittle hot and it would take some work to get in a deal. A secondary market of a city like nashville tho. Clarksville, murfreesboro, hermitage, hendersonville. Worked for an investor and acquired nearly 200 doors in 6 months in bham. Only draw back to good markets is heavy hedge fund presence. There is a good amount of competition. WIth good property management things seem solid. 

I have been canvassing San Antonio and Dallas, Phoenix, Ft Lauderdale, Asheville and surrounding areas. 

would you ever consider putting down 25-40% down to get a better CoC?

Well im glad you mentioned seller financing. I gonna close (finally) in April on a rehab. Then may grab a seller financing deal every couple months. because 0% is way better than what anyone can do at this moment. I do offer the seller 3% of the purchase price due at closing. To say hey thanks for letting me finance with you versus the bank. 

With Rates being what they are at this phase of (dare I say it) a recession or slow down or correction, or whatever help confidence;

SVB, FIRST REPUBLIC BANK, SIGNATURE BANK, AND SILVERGATE

Should avoiding the banks for a quarter even be a thought in my planning?

Though it may seem kinda disconnected, In my opinion the effect on interest rates is something to watch out for. 

I'm not a finance guy, so im definitely not speculating because i wouldn't know where to start. Only looking to exercise some caution. positioning at this point could leave one poise for a big break out . In my market prices are falling steadily, over that past 6 months. Things are still moving, (I just save a bunch a properties on zillow and see what happens.) Im sure realtors and lenders have better data than that. 

I have come up with a strategy that involves seller financing to avoid the banks. However, on a final product it doesn't matter as much if lending becomes any more expensive. BTR wasnt part of the plan however cash out refi may not look as much of a turn either depending on investment property lending moving forward. 

Here my thoughts ultimately, for a single family full gut rehab on a 6-8 time table (environmental court). I know that's a long time. BUt that's the time i want to have a portfolio to roll 3-5 properties into to close out the year. 

How could the FEDs handling of recent events affect a banks willingness to lend? 

Should my numbers be even more conservative? 

On larger purchases Multifamily, assume the loan vs refinance or starting new debt?

Carrying paper on acquisition? 

Putting in more cash 25-40% if can raise it in private equity? 

Just looking for some solutions because Ive gotten the ball rolling and this could be one of those times other investors talk about e.i. "in 09 i was picking up property dirt cheap", or as my dad says " in '85 i would have invested in nike" kinda situations, just a thought.. 

any insight, comments or thoughts?

All thank you for responses,

when identifying property management, what ar your checklists? what are expected items

When properties sale that have property management in place. Is it customary that property management remains in place? Is it possible to retain existing property management remains? What should I expect from doing that dance?

Im under contract and with closing set for 1 FEB. This is gonna be a learning experience due to dealing with environmental court. The property is condemned currently and as of June 2022 Will confirm before closing that I have till June 2023 to get the property below 75% deteriorated or whatever verbiage that was used to denote the property being in a degraded condition. 

With an estimate in for the roof ($10,000 approximately). My thought process going in was that the roof would be 1/4 of the total rehab budget. Going on a limb and estimating 50k, and additional 10k, to the budget. With purchase and rehab that estimated 35k + 50k = 85k. In a perfect world the property will need to hit an appraisal of 120k to hit 96k @70% for cash out refi. 

My first rehab lets see how it goes!

Who has participated in auctions on the any of the Commercial RE sites, Loop Net, Ten-X or costar. What was the experience like, what was the title process? 

IMO: the market should slow down some due to inflationary spending (free money the government been handing out) and the war in ukraine. Not because of the war but the free money the government has been donating to the efforts(this is not a political post, simple economics). Combine those to with OZ investing. Not against or for either, but the interest rate hike should literally be a little higher. Add to that natural disasters and random things oh and the supply chain situation. And for good measure, to avoid 2008, No doc loans are back, so be prepared for credit default swaps. Overall the confidence in the market is still solid overall IMO

The Housing market has turned down hard. In my market im seeing at at least 15-25% on SFR and about the same on some commercial deals i've been spying personally. Even SFR rental rates are dropping vs a year ago in the same zip codes. In high demand Areas like Nashville (the only one i can recall from first hand account) The insolation from national effects seem good, but in memphis, As i'm still learning what drives the market, in order to hit the swing on t price points with a level of confidence to start a 6-9 month project in today's climate.

@Account Closed

I received the Engineering Report, ultimately once it cleaned out will be able to better see what i'm working with as it relates to the flooring. You have any understanding of the information presented? I have more pics where only able to post 2 per post.

Based on our visual structural inspection of the referenced residence, all the roof framing and the

majority of the residence should be rebuilt except for structural members on the front side which

were addressed in this report. This report does not provide any recommendations for the repair

methods. Current building code requirements and local amendments should be considered for

rebuilding the fire-damaged portion of the residence.

The Engineer shall have no liability to the Owners, or to others for the acts or omissions of the

Contractor or any other Persons performing work on the project, or failure of the Contractor to

carry out the work in accordance with this letter, except where specifically inspected and

approved by the engineer and discovery of defect is possible within the normal ability or standard

of care for the industry.

This report is based on a diligent visual inspection of the referenced areas. No destructive testing

was requested or required for this report.

So are some air bnb's only accessible with/by particular NFT's. thats kinda cool.  Interested in understanding more about web3s integration generally into the market as well as how you are you leveraging new tech for marketing ads and such. I know a little about networking but its not my bread and butter interested in web3 and nft.